Got a question for the trio?
Episode Highlights
2.42 – Cate defines the various title types associated with apartments
7.22 – Dave and Cate chat about the conversion process for changing stratum to strata
11.45 – Dave gives some good examples of LVR restrictions when it comes to apartments
14.52 – “Always get a contract review”
15.25 – Mike shares a real life story about proxy votes and separate unit entitlements
19.15 – Can you bank on strata fees matching what you were quoted when you purchase an off the plan property?
19.41 – Teaser for next week’s show – Sam asks about equity access for renovating and/or investing
21.05 – Dave asks Cate to chat about the challenges and risks of high density high rise apartments
27.18 – Mike challenges Cate to expand on what she loves about boutique blocks
34.15 – And our gold nuggets!
Show notes
In this exciting episode of the Property Trio podcast, Cate, Dave, and Mike dive deep into the fascinating world of apartment, in part 2 of “All things apartments and units”!
1. Quirky Apartment Titles Unveiled
Cate’s Quirky Title Types: Brace yourselves for a wild ride as Cate unveils some of the quirkiest apartment titles you’ve ever heard of. Art Deco era apartments often come with surprises like Company Share and Stratum titles. But beware, these might be cheaper, but they come with their own set of dangers. Cate breaks down the differences and why you should exercise caution, especially when your deposit funds are less than 40%.
2. Converting Stratum and Company Share to Strata
Unlocking the Conversion Code: Is it possible to convert Stratum and Company Share titles to Strata? Dave sheds light on this conversion process, revealing that it’s not always straightforward. It can involve more than just legal fees and subdivision costs.
3. The Impact of Title Types on Your Loan Application
Cracking the LVR Code: Dave delves into the Loan-to-Value Ratio (LVR) implications of different title types. Get sage advice for those considering stratum or company share properties and learn how these titles can affect your loan application.
4. Navigating Lender Restrictions for Apartments
Breaking Down Lender Restrictions: Dave discusses the options available to buyers when it comes to lender policy restrictions for apartments. Discover how small apartments and those with commercial zoning can pose challenges. Will zoning be altered for office-to-residential conversions?
5. Beware of Strata Fees
The Elephant in the Room: Cate tackles the issue of strata fees for off-the-plan apartments. This is a must-listen segment for anyone considering such properties, as Cate reveals the essential details you need to know.
6. High Density Woes and Complex Case Studies
Unraveling High Density Mysteries: Dave opens Pandora’s Box, exploring the risks associated with high-rise, high-density properties. From cladding issues to Airbnb problems, car stackers, special levies, and location concerns, Cate shares her laundry list of complexities. Brace yourself for an eye-opening case study from Mike that highlights how rules can change within a development.
7. Boutique Apartment Blocks: Pros and Cons
Discovering the Beauty of Boutique Blocks: Cate shares her love for boutique apartment blocks and their unique charm. The list of advantages is extensive, but downsides exist too. Tune in to find out what makes these blocks special.
8. Pet Owners in Apartment Blocks
Pet Dilemmas: What do you do when pets aren’t allowed in your apartment block? Stay tuned as the Property Trio team discusses the challenges and potential solutions for pet owners in apartment living.
Gold Nuggets
Mike Mortlock’s gold nugget: Too many investors think that low strata fees are attractive, but they need to think about their sinking fund schedule and the long term cost of ignoring important things.
Cate Bakos’s gold nugget: Cate also chats about low strata fees. It’s a bit of a Goldilocks conundrum. Too low, or too high… there is a sweet spot when it comes to strata fees. And high-rise apartment owners need to be prepared for higher fees.
